African Development Bank (ADB)
HISTORY AND PRESENT STATUS
The African Development Bank was established in
1964 under the auspices of the Economic Commission
for Africa and began operation in 1966. The main
office is in Cote d'Ivoire. The Bank obtains its
funds from cash subscriptions from regional and
non-regional members. In order to retain the Bank's
African character, regional members subscribe two-thirds
of the total capital stock.
OTHER DEPARTMENTS AND COOPERATING ORGANISATIONS
Department of Finance
Development Bank of Southern Africa
South Africa became a member of the ADB in 1995,
and presently holds 1% of the Bank's shareholding.
At the moment there are negotiations to increase
shareholding to 5% in order to have a more substantial
input into policy decisions.
Membership to the ADB allows South Africa financial
support according to a Country Strategy Paper (CSP).This
outlines areas which the bank can consider financing
within the country.
In the case of South Africa, the bank is examining
the development of the country's infrastructure
such as roads, railways, harbours, airports and
electrification for households and industry.
The Development Bank of Southern Africa (DBSA)
has a line of Credit from this Bank and hence it
is able to finance regional development.